UK: House prices fall 0.7% in November

House prices fall 0.7 percent in November - Halifax
9 December 2010, London (Reuters)
http://uk.reuters.com/article/idUKTRE6B81HS20101209

Excerpt:

House prices posted their first annual decline in a year in the three months to November, and prices fell 0.1% on the month, mortgage lender Halifax said on Thursday.

Halifax said house prices fell 0.7% in the three months to November compared with a year ago, in line with analysts' forecasts, and taking the average price of a home to 164,708 pounds.

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The figures came after rival mortgage lender Nationwide reported last week that house prices fell 0.3% in November, for an annual gain of 0.4%.

Together, the figures highlight the weak state of the housing market and a recent fall in mortgage approvals suggests that house prices will remain subdued for some time to come.